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Potential for millions of ounces of gold - Erdene Resource's Peter Akerley
Erdene Resource Development (TSX: ERD) is focused on Mongolian gold and copper development, with projects that could potentially produce millions of ounces of gold.
Bayan Khundii, just one of Erdene's projects, has defined high-grade resources of over 400,000 oz of gold and recent discoveries adjacent to Bayan Khundii suggest significantly more gold.
In January Erdene's CEO and President, Peter Akerley, said in an interview with David Lin, Anchor and Producer at Kitco News, that Erdene had recently agreed to a new strategic partnership with the Mongolian Mining Corporation.
"With the size of this, the scale of this new district [Khundii Minerals District], we decided that it was the right time to seek out a new partner," he said. "We announced just last week a partnership, a strategic alliance with Mongolia's largest publicly-listed miner."
Under the deal, Mongolian Mining Corporation will invest $40 million in return for an equity stake in Erdene's Mongolian subsidiary, Erdene Mongol LLC, which holds the Khundii and Altan Nar mining licenses, as well as the Ulaan exploration license in Southwest Mongolia.
When asked why the company is focused on Mongolia, Akerley said Mongolia is "second to none."
"It is one of the world's great gold and copper belts," he said.
To find out about how Erdene's (TSX: ERD) future projects and partnerships, watch the video above.
